Paragraph 1

Where a person F1defers his entitlement to a Category A or Category B retirement pension after attaining pensionable age, or has made an election by virtue of section 30(3) of the Act and has not revoked it, then for the purpose of calculating the graduated retirement benefit payable to him from the date of his entitlement—

(a)

there shall be added to the amount of the graduated contributions properly paid by him as an insured person one-half of the aggregate graduated retirement benefit which would have been payable to him for any period before 6th April 1979 (disregarding the effect of any order made under section 124 of the Act) if he had retired from regular employment on attaining pensionable age and had received that benefit for the whole of the period without any interruption or abatement:

Provided that, in computing the addition to be made in accordance with this paragraph in the case of a person who has made an election by virtue of section 30(3) of the Act (re-entry into regular employment) or the corresponding provisions of any earlier Act, no account shall be taken of any period between 6th April 1975 and 5th April 1979 (both dates inclusive) which falls between the date of that election and the date of his previous retirement; ~~F2and~~

(b)

~~the rate of his graduated retirement benefit shall be increased by an amount equal to the increments to which he is entitled under paragraph 3 below, but only if either—~~

(i)

~~that amount is enough to increase the rate of the benefit by at least 1 per cent., or~~

(ii)

he has attained pensionable age before 6th April 1979, and has either deferred his retirement before that date, or made an election by virtue of section 30(3) of the Act taking effect before that date or both.

Annotations

Textual amendments

F1: Words in Sch. 2 para. 1 substituted (1.10.1989) by The Social Security (Abolition of Earnings Rule) (Consequential) Regulations 1989 (S.I. 1989/1642), regs. 1, 5(3)(a)
F2: Sch. 2 para. (1)(b)-(4) and word omitted (6.4.2005) by virtue of The Social Security (Graduated Retirement Benefit) Regulations 2005 (S.I. 2005/454), regs. 1(1), 3(1)(a)(b) (with 3(2)(a)(b))

Notes on Schedule 2

Modifications

C1: Sch. 2 sum amended (11.4.1988 in so far as not already in force) by The Social Security Benefits Up-rating (No.2) Order 1987 (S.I. 1987/1978), arts. 1(1), 6(2)
C2: Sch. 2 modified (12.4.1993) by The Social Security Benefits Up-rating Order 1993 (S.I. 1993/349), arts. 1(2)(d), 11(2)
C3: Sch. 2 modified (with effect in accordance with arts. 1(3), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 1999 (S.I. 1999/264), arts. 1(2)(c), 11(2)
C4: Sch. 2 modified (with effect in accordance with arts. 1(3), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2000 (S.I. 2000/440), arts. 1(2)(c), 11(2)
C5: Sch. 2 modified (9.4.2001) by The Social Security Benefits Up-rating (No. 2) Order 2000 2001 (S.I. 2001/207), arts. 1(2)(c), 11(2)
C6: Sch. 2 modified (8.4.2002) by The Social Security Benefits Up-rating Order 2002 (S.I. 2002/668), arts. 1(2)(c), 11(2)
C7: Sch. 2 modified (7.4.2003) by The Social Security Benefits Up-rating Order 2003 (S.I. 2003/526), arts. 1(2)(c), 12(2)
C8: Sch. 2 sums amended (12.4.2004) by The Social Security Benefits Up-rating Order 2004 (S.I. 2004/552), arts. 1(2)(c), 12(2)
C9: Sch. 2 sum amended (11.4.2005) by The Social Security Benefits Up-rating Order 2005 (S.I. 2005/522), arts. 1(2)(c), 12(2)
C10: Sch. 2 modified (10.4.2006) by The Social Security Benefits Up-rating Order 2006 (S.I. 2006/645), arts. 1(2)(d), 12(2)
C11: Sch. 2 modified (7.4.2008) by The Social Security Benefits Up-rating Order 2008 (S.I. 2008/632), arts. 1(2)(d), 12(2)
C12: Sch. 2 modified (with effect in accordance with art. 1(3)(a), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2009 (S.I. 2009/497), arts. 1(2)(d), 12(2)
C13: Sch. 2 sums confirmed (12.4.2010) by The Social Security Benefits Up-rating Order 2010 (S.I. 2010/793), arts. 1(2)(d), 12(2)
C14: Sch. 2 sums amended (with effect in accordance with arts. 1(3), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2011 (S.I. 2011/821), arts. 1(2)(c), 12(2)
C15: Sch. 2 sums amended (with effect in accordance with arts. 1(3), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2012 (S.I. 2012/780), arts. 1(2)(c), 12(2)
C16: Sch. 2 sums amended (with effect in accordance with arts. 1(3), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2013 (S.I. 2013/574), arts. 1(2)(c), 11(2)
C17: Sch. 2 sums amended (for specified purposes and with effect in accordance with arts. 1(2)(c)(l)(3)(4), 6 of the amending S.I., so far as not already in force and with effect in accordance with arts. 1(2)(c)(4), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2014 (S.I. 2014/516), art. 1(2)(c)(l)(3), 8(2)
C18: Sch. 2 sums amended (for specified purposes and with effect in accordance with arts. 1(2)(c)(l)(3)(4), 6 of the amending S.I., in force in so far as not already in force and with effect in accordance with arts. 1(2)(c)(4), 6 of the amending S.I.) by The Social Security Benefits Up-rating Order 2015 (S.I. 2015/457), art. 1(2)(c)(l)(3), 8(2)
C19: Sch. 2 sums amended (with effect in accordance with arts. 1(3)(4), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2017 (S.I. 2017/260), arts. 1(2)(c), 12(2)
C20: Sch. 2 sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2019 (S.I. 2019/480), arts. 1(3)(c), 12(2)
C21: Sch. 2 sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2020 (S.I. 2020/234), arts. 1(3)(c), 12(2)
C22: Sch. 2 sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2021 (S.I. 2021/162), arts. 1(3)(c), 12(2)
C23: Sch. 2 sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up Rating Order 2022 (S.I. 2022/292), arts. 1(3)(c), 12(2)
C24: Sch. 2: sums amended (with effect in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2023 (S.I. 2023/316), arts. 1(3)(c), 12(2)
C25: Sch. 2: sums amended (coming into force in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2023 (S.I. 2023/316), arts. 1(3)(c), 12(2)
C26: Sch. 2: sums amended (coming into force in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2024 (S.I. 2024/242), arts. 1(3)(c), 11(2)
C27: Sch. 2: sums amended (coming into force in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2025 (S.I. 2025/295), arts. 1(3)(c), 11(2)
C28: Sch. 2: sums amended (coming into force in accordance with arts. 1(4)(5), 7 of the amending S.I.) by The Social Security Benefits Up-rating Order 2026 (S.I. 2026/148), arts. 1(3)(c), 11(2)